Why Crypto Market is Up Today: Will Bitcoin Follow Gold’s Path?

Why Crypto Market is Up Today and Will it Maintain Bull Run? Check Now

The global crypto market is seeing a fresh wave of positivity, and the numbers are clearly showing it. As of today, the total crypto market cap has reached $2.76 trillion, marking a 0.58% increase in the last 24 hours. Along with that, the 24-hour trading volume has jumped to $87.56 billion, up by 28.49%, as per CoinMarketCap.

Why Crypto Market is Up Today? Whale, Trump, and Bitcoin Effects

One of the big reasons behind the rise is massive whale activity. According to Lookonchain, a known whale just deposited another 300 BTC (worth around $26.46 million) to Binance. This same wallet has moved around 4,800 BTC ($406M) over the past year and still holds over 5,200 BTC, valued at $460 million.

Source: Lookonchain

At the time of writing, BTC price was trading at $88,558.31, after an intraday spike of 1.50% with $1.75T in market cap and $37.55B in 24-hour trading volume. Additionally, on April 22, the physical asset hit the psychological level of $3,500, its highest price ever. This jump came as the U.S. dollar dropped to its lowest in 3 years.

Based on the current Bitcoin performance, it would be interesting to see whether BTC follows Gold? 

It’s not just Bitcoin. Big wallets are also showing interest in memecoins like Fartcoin. Wallets labeled CTRWQ3, Gti2oW, and FUTwwa recently spent over $5 million combined to buy large amounts of Fartcoin at prices between $1.09 and $1.15. This kind of activity often creates excitement and builds trust in the community.

As of now, Fartcoin was hovering at $1.06, after an intraday surge of 17.40%. 

Another factor influencing prices is politics. Donald Trump has been openly criticizing Federal Reserve Chairman Jerome Powell, saying Powell is “too late and wrong” about interest rate decisions. Analysts say that if Trump replaced Powell with someone who is more favorable to lower interest rates, it might propel crypto prices even further, with Bitcoin and other coins typically performing better during low-rate regimes.

To add to the momentum, Spot Bitcoin ETFs are demonstrating solid inflows. Through April 21, total net inflows amounted to $381.40 million, while cumulative net inflows totaled $35.76 billion. 

Source: SoSoValue

These ETFs currently manage assets of $97.61 billion, equivalent to approximately 5.63% of the market cap of Bitcoin. This indicates that institutional investors are still backing BTC.

Also noteworthy is the Fear and Greed Index. It has risen from "Fear" to "Neutral" at 47, which indicates that the people are becoming more optimistic about the market.

What's Next for Crypto? Predictions and Warnings

Renowned financial writer Robert Kiyosaki is also enhancing investor optimism. Recently, he mentioned, "Bitcoin is $84K today. Strongly believe it will reach $180K to $200K in 2025." Several experts are also discussing the beginning of potential altcoin season, when small tokens could begin to increase rapidly.

Source: X

But though things seem fine for the moment, there is still caution required. Trump's continued fights with China and Powell could bring about uncertainty. If tensions increase, the market will suffer.

Conclusion

Today's crypto price surge is supported by solid whale demand, increasing ETF support, and political intrigue that may change future interest rates. Short-term confidence is high, but the long-term trajectory will continue to be subject to global events and investor sentiment. For now, the crypto community is observing closely—and cautiously enjoying the upswing.